Truelink Capital entered into a definitive agreement to acquire Air Distribution Technologies business of Johnson Controls from Johnson Controls International plc (NYSE:JCI) on June 18, 2024. As per terms, Doug Schuster will continue the role of Chief executive officer of Air Distribution Technologies. The transaction is subjected to customary closing conditions and is expected to close the second half of the calendar year 2024.

Dale Rudow, Mike Lindemann, Chris Cooper, Nick Sealy, Jen Roeper and Jack Bazal of Robert W. Baird & Co. Incorporated acted as financial advisor for Johnson Controls International plc. Cleary Gottlieb Steen & Hamilton LLP acted as legal advisor for Johnson Controls International plc.